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It took the work of a group of bitcoiners to change the candidate’s opinion.
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The idea of raising millions of dollars in donations through cryptocurrencies seduced Trump.
“I am not a supporter of Bitcoin or other cryptocurrencies, which are not money and whose value is very volatile and based on nothing,” said the presidential candidate in a tweet he wrote in July 2019, when he was still president of the United States. .
It is a phrase that contrasts strongly with his most recent posts related to the topic, in which he promises to make America “great again with cryptocurrencies.”
As reported by CriptoNoticias, Trump’s attacks on cryptocurrencies throughout 2019 were repeated on several occasions, after that first tweet where he established his position on the sector. The former US president was highly critical of the functioning of Bitcoin and other cryptocurrencies, stating that they “facilitate” illegal activities such as drug trafficking.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate illegal behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Hence, when observing the comments he began to make since the middle of this year, a drastic change of opinion has become noticeable. This, in the midst of confirming his candidacy for the presidency. A movement that responds to a series of factors that have influenced his position, taking him from rejection to support in a matter of months. Although there are some keys that show and explain this evolution. Let’s see.
Millions of dollars in donations attracted Trump
According to the story published at the end of last August in CNBC, a group of bitcoiners among whom three experts from Puerto Rico stand outthey joined to try to convince the presidential candidate bitcoin value republican.
According to the publication, the Puerto Rican trio was made up of Amanda Fabiano, from the Mining consulting company Fabiano Consulting; Tracy Hoyos-López, former California prosecutor; and David Bailey, CEO of media group BTC Inc. and organizer of the Bitcoin conference in Nashville.”
The meeting took place in New York in mid-June, after efforts to reach out to Trump’s campaign team bore fruit. The former president agreed to meet with a dozen executives and Cryptocurrency experts for a 90 minute round table.
At the meeting, the virtues of mining were presented with the intention of convincing the candidate that donations in cryptocurrencies They would be large enough to make the event worthwhile. In fact, those who committed to go They donated $500,000 each to a fundraising committee.
These donations have grown substantially over recent months, as noted in a report by the corporate influence watchdog Public Citizen, according to which 48% of corporate electoral spending comes from cryptocurrency companies.
The Public Citizen estimates They are based on data provided by the government transparency group OpenSecrets, which calls the political contribution of the bitcoin ecosystem this year “unprecedented.”
A fact that put, before everyone’s eyes, the certainty that the digital currency was playing an important role in these elections. A situation that was probably not foreign to Trump’s knowledge when he met with the bitcoiners.
To date it is known that the Trump campaign has received more than 7.5 million dollars in cryptocurrency donations, of which more than $5.5 million came from 18 BTC donors.
“After years of facing negative political reactions we realized that Trump took an active interest in investigating and learning about why this industry is real and why we are not a group of criminals,” Fabiano commented, concluding that they already knew they would not start from scratch with Trump, since there were indications that the former president had previous contacts with the industry.
Date | SOME QUOTES FROM TRUMP ABOUT BITCOIN |
June 2021 | “I don’t like Bitcoin because it is a currency that competes against the dollar. “I want the US dollar to be the strongest currency in the world.” |
February 2024 | “Many people are embracing Bitcoin and there are more and more people who want to pay with BTC.” |
March 2024 | “Bitcoin is an additional form of currency with a lot of use.” |
May 2024 | »I will make sure that the future of Bitcoin and cryptocurrencies is made in the USA. I will keep Elizabeth Warren’s anti-crypto army and her thugs away from your Bitcoin. |
August 2024 | “Bitcoin can be used to pay off the country’s $35 trillion debt.” |
September 2024 | Donald Trump uses Bitcoin to pay at a New York bar. |
Trump’s family and friends were already interested in Bitcoin
«There are many people in Trump’s entourage who are fans of Bitcoin. There are members of his family who are fans of Bitcoin,” one of the members of the team who met with the candidate to talk about cryptocurrencies told the media.
In fact, Donald Trump Jr. and Eric Trump, the candidate’s sons, have spoken publicly about investments in cryptocurrencies and the influence of their technology in the world. It is known that both they had been communicating with industry experts and investors in the cryptocurrency sector for several years.
The family’s rapprochement was most evident in August, shortly after the Nashville event, where the candidate presented its new work plan with the sector.
Trump had taken the stage at the Bitcoin conference in Nashville speaking to thousands of bitcoiners. During his speech, emphasized the importance for the United States to lead the industry of Bitcoin, warning: “If we don’t do it, China will.”
Donald Trump intervened this Saturday, July 27, at Bitcoin 2024. Source: YouTube.
«Bitcoin means freedom. This means there is no government interference. “Anti-cryptocurrency policies like Biden’s are over,” he added. leaving many surprised by his change of vision.
If they (the Democrats) win this election, you will all be gone. They will be cruel. They will be ruthless. They will do things you wouldn’t believe. But right now, because of me, they are leaving them alone.
Donald Trump, Republican candidate for the presidency of the United States.
Statements of similar support began to flood the media in 2024. Trump made an effort to leave his negative comments behind, supporting the launch of a cryptocurrency platform family run. It was like this at the end of August World Liberty Financial was introduceda decentralized exchange.
And although the project still raises doubts about the advantages of this launch for the electoral campaign, it has served to reinforce the candidate’s promises.
Trump has investments in cryptocurrencies
Beyond the meetings with experts and family influence, another key that shows the evolution of Trump’s position on the ecosystem is found in his investments. By 2023, despite the criticisms it had expressed in previous years, it was known that the former president had more than $250,000 in ether (ETH).
As shown by the businessman’s financial history, by August 2023 Trump had between USD 250,000 and USD 500,000 expressed in ETH and deposited in an Ethereum wallet. These investments are related to a collection of non-fungible tokens (NFT) that he launched on the market shortly after leaving the Oval Office of the White House.
In 2022, the former president announced the arrival of Trump Digital Trading Card, an NFT collection made up of 45,000 collectible pieces that emulate classic baseball cards.
The candidate’s investments in cryptocurrencies have grown over timesince by August 2024 the holdings are estimated between 1 and 5 million dollars, with profits that exceed USD 7.15 million.
Trump reveals millionaire possessions in cryptocurrencies. Source: Citizens for Ethics.
Interestingly, Trump has not invested in bitcoin. A detail that many highlight taking into account their current stance in favor of the currency created by Satoshi Nakamoto and his commitment to creating a bitcoiner paradise if he wins the elections.
In that sense, the fact that after the Nashville conference, mentions of the Bitcoin candidate have been decreasing gradually to the point that he almost no longer enters important debates and speeches. He only recently appeared in a video paying with BTC, but without reiterating the great ideas he expressed a few months ago.
Now, all that remains is to wait for the results of the elections on November 5; and then – if Trump is elected – see if the candidate really keeps his promises.
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